The United States will increase supplies of liquefied natural gas to the European Union. According to the Financial Times, the US is finalizing a plan to supply up to 15 billion cubic meters of LNG by the end of 2022 to help the EU reduce its dependence on Russia.
As said Wednesday by US national security adviser Jake Sullivan, an agreement between the Biden administration and the European Union for the dispatch of liquid gas will be announced tomorrow when the American president meets the president of the European Commission, Ursula von der Leyen, before leaving for Poland.
Addiction
Speaking to the European Parliament before Biden’s visit on Wednesday, Ursula von der Leyen said that the EU is looking for additional supplies of gas from the United States “for the next two winters”.
European Union countries import 90% of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying nearly 40% of gas to the EU and a quarter of its oil. Brussels is now looking for ways to reduce its dependence on Russian gas by diversifying suppliers.
German fears
In Germany, the natural gas supply situation is about to deteriorate and, according to Bloomberg reports, a major German energy group has urged the Berlin government to issue the first level of alert in its emergency plan.
Bdew, which represents Germany’s main gas and electricity suppliers, said it could not rule out supply disruptions as a result of Vladimir Putin’s request for payment in rubles.
Goldman Sachs forecasts
According to analysts at the Goldman Sachs bank, rather than an increase in US production, Washington would consider diverting enough liquefied natural gas to Europe to help Europe replenish its stocks at safe levels before next winter. The unknown factor, however, is that the flow of gas from Russia may be interrupted, after the worsening of the crisis, also following Vladimir Putin’s request to be paid in rubles.